Term
| 6 Basic Elements of Supply Chain |
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Definition
| Demand, Plan, Source, Make, Deliver, Information Technology. |
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Term
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Definition
3 or more companies directly linked by the upstream and downstream flows of products, services, finances, and information from a source to a customer.
The purpose is to balance supply management with demand management. Becoming more efficitient and effective. |
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Term
| Inventory Level for Low Costs |
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Definition
| Minimize inventory throughout the chain to hold down costs |
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Term
| Inventory level for Response |
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Definition
| Develop a responsive system, with buffer stocks positioned to ensure supply. |
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Term
| Inventory Level for Differentiation |
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Definition
| Minimize inventory in the chain to avoid obsolescence. |
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Definition
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Definition
| Doing the right "things" to create value |
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Definition
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Definition
| Processes used to transform resources into value |
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Term
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Definition
| How materials and supply are moved to and from transformation processes |
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Term
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Definition
| Physically connected by transportation and storage activities |
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Term
| Technologically connected through: |
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Definition
| Information, planning and integration activities |
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Term
| Impacts of Supply chain include |
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Definition
| Cost or price, Quality, Delivery Speed, Coping with changes in Demand, Flexibility and ndw product entry, Support process. |
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Term
| A supply chain must do what to be effective? |
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Definition
| It must create value as determined by customer. |
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Term
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Definition
| The increase in variability of demand as one moves upstream in a supply chain. |
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Term
| Demand Variability is amplified by |
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Definition
| Incorrect info, Late info, Order Batching, Over-Reactions, Game-Playing, Long lead times. |
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Term
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Definition
| Broad Policies and plans for using the resources of a firm to best support its long-term strategy. |
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Term
| Flow within a supply chain |
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Definition
1.Raw materials manufacturers
2.Intermediate products manufacturers
3. End product manufacturers
4. Wholesalers and distributors.
5. Retailers. |
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Term
| What are Sales and Operations Planning? |
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Definition
| Cross functional work to balance supply and demand. A process that helps the firm: -Provide better customer service -Lower Inventory -Shorten customer lead times -Stabilize production rates -Keeps supply and demand balanced |
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Term
| Describe cash-to-cash cycle |
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Definition
| Its the time it takes to convert paid inentory into cash from accounts receivable. |
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Term
| What are the effects of a long cash to cash cycle? |
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Definition
| It can diminish financial returns and decrease the agility necessary to respond to market dynamics. |
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Term
| What effects does a short Cash-to-Cash cycle have? |
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Definition
| It can greatly improve financial returns and improve a company s flexibility. |
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Term
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Definition
| Sales Revenue vs Cash Receipt |
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Term
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Definition
| Expense vs Cash disbursement |
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Term
| What are the two levels or errors? |
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Definition
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Term
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Definition
| A consitent mistake, Failure to use correct variable, wrong trend line, some undetected trend. |
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Term
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Definition
| Use MAD= Mean Absolute Deviation.....and find random errors. |
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Term
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Definition
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Term
| What is the Fundamental Objective of Supply Chain Management? |
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Definition
| To integrate supply and demand Management by balance. |
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Term
| By balancing the supply and demand we? |
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Definition
| Maximize profits and support corporate objectives. |
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Term
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Definition
| Opportunity for communication |
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Term
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Definition
| Productivity improvement. |
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Term
| Four types of strategic alliances. |
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Definition
1. Trust based
2. Unleveraged Purchasing
3. Darwanian Rivalry
4. Balanced Sourcing. |
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Term
| What is Trust-Based Partnership? |
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Definition
| Supplier dominated, High commitment to cooperative relationship and low commitment to competitive pricing. |
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Term
| What is Darwanian Rivalry? |
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Definition
Customer dominated
High commitment to competitive pricing but low commitment to cooperation. dOES NOT RESULT IN IMPROVEMENT. |
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Definition
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Term
| Who is Fredrick Taylor? What did que practice? |
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Definition
| He is known as the Father of scientific Management He practiced giving employes rest breaks through the day. |
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Term
| Who is Fredrick Taylor? What did que practice? |
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Definition
| He is known as the Father of scientific Management He practiced giving employes rest breaks through the day. |
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Term
| Taylors four Management principles |
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Definition
1. Develop a science for each element of a mans work, which replace old rule of thumb.
2. Scientifically select and then train, teach and develop the workman.
3. Cooperate with the men to insure all work is done in accordance with science. Monitor.
4. There is almost equal division of the work and responsibility between workers and management. |
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Term
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Definition
| First woman with Phd in Management and a head lobbyist and convinced government to pass laws about work place safety, child, and ergonomics. |
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Term
| What are the two types of Motion Studies: |
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Definition
1)Time study: How long it takes good workers to complete each part of their jobs. Motion
2)Study:Breaking each task into separate motions and then eliminating those that are unnecessary or repetitive. |
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Term
• Mary Parker Follet- Dealt with 4 things. |
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Definition
1. Conflict
2.Domination
3.Compromise
4.Integration |
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Term
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Definition
1.Top
2.Middle
3.First-line
4.Team Leader. |
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Term
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Definition
- Change
- Commitment and Ownership
- Creating Positive Org Culture
- Monitoring Environment.
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Term
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Definition
- Resources
- Objectives
- Coordination
- Monitor Subunit performance
- Implement Strategy
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Term
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Definition
- Manage Performance of entry level.
- Encourage and monitor performance.
- Training of entry level employees.
- Make detailed schedules.
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Term
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Definition
- Facilitate team performance
- Manage external relations
- Facilitate internal relations.
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Term
H. Mihntsburg, “ Managers Job Folklore or Fact”
What are the managerial Roles? |
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Definition
1. Interpersonal
2. Informational
3. Decisional |
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Term
| Characteristics of Interpersonal (3) |
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Definition
- Figurehead
- Leader- Motivate/inspire
- Liaison- People go through
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Term
| Characteristics of Informational (3) |
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Definition
- Monitor
- Disseminator
- Spokes Person
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Term
| Characteristics of Decisional(4) |
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Definition
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- Entrepreneur
- Disturbance Handler
- Resource Allocation
- Negotiator.
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Term
| Robert Kats- “What companies look for in managers”? |
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Definition
• Technical Skills:
• Human Skills:
• Conceptual:
• Motivation to manage: |
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Term
| Linda Hill “Becoming a Manager”: Master of a new identity. |
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Definition
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- Managers Initial Expectation: Be the boss, formal authority, manage task, job isn’t managing people
- After 6 months: Initial Exp was wrong, fast paced, heavy workload, Job is problem solver and troubleshooter.
- After a Year Manager: No longer “doer”, communication and positive reinforcement, learning o adapt and control streets, JOB is people development.
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Term
| Components of General Environment:(4) |
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Definition
- Economy
- Technological trends
- Socio Culture trends
- Political/Legal trends
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Term
| Socio Culture component-(4) |
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Definition
- Demographic Changes
- Changes in behavior and attitudes.
- Demographic Changes
- Changes in behavior and attitudes.
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Term
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Definition
1.Demographic Changes
2.Changes in behavior and attitudes |
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Term
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Definition
- Supplier Dependence
- Buyer Dependence-
- Opportunistic Behavior
- o The answer is F. But check anyway.
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Term
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Definition
Do not use past data.
Delphi Method
Expert opinion
Customer Surveys |
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Term
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Definition
Causal
Linear regresion
Time series |
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Term
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Definition
Uses external data to predict future
Looking for factors that "cause" demand. |
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Term
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Definition
| Recognized relationship between demand and some other variable. |
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Term
| What is the difference between dependent and independent variable? |
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Definition
| Dependent Variable is forecasted and Independent Variable is predicted. |
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Term
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Definition
| Uses past info to predict future |
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Term
| Components of a Time Series |
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Definition
1. Cycles: Patternt that repeaths over time such as 20 years. .
2. Trends: Causes demand to increase or decrease
3. Seasonality: Repeats itself at least once a year.
4. Randomness Fluctuation: Unpredictable variation in demand that is not due to trend seasonality or cycle. |
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Term
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Definition
| For more responsiveness, assign heavier weights to more recent data points. |
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Term
| A higher alpha makes the forecast more________to changes. |
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Definition
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Term
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Definition
| Running sum of forecast errors. |
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Term
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Definition
| Coordinate demand between trading partners. |
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Term
| The CPFR is used to exchange internal information on a shared Web server and as a result?(5) |
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Definition
1. Create front-end relationships.
2. Joint business planning.
3. Development of demand forecasts.
4. Sharing forecasts
5. Inventory replenishment. |
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Term
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Definition
| Qualitative and Quantitative. |
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Term
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Definition
| MAD and..... RSFE= Running Sum of Forecast Errors. |
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Term
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Definition
| Purpose is to coordinate and conrol all sources of demand so that the supply chain runs efficiently and product is delivered on time. |
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Term
| Supply Chain must match capacity with__________ |
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Definition
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Term
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Definition
| Refers to the strategic decision of selecting which kind of production processes to use to produce a product or provide a service. |
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Term
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Definition
1. Project layout
2. Work center
3.Manufacturing cell
4. Assembly line
5. Continuous process. |
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Term
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Definition
| Ptoduct remains in a fixed location. EX: Construction, Roads and houses. |
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Term
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Definition
| Where similar equipment or functions are grouped together. |
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Term
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Definition
| Dedicated area where similar in processing products are produced. |
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Term
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Definition
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Term
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Definition
| Similar to assembly line but continuous. Ex: Drugs Chemicals, Petroleum |
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Term
| When planning production we have to consider 2 inputs. |
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Definition
1. External inputs.
2. Internal inputs. |
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Term
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Definition
-External capacity
-Competitors behavior
-Raw material availability
-Market demand
-Economic conditions. |
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Term
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Definition
Current phisical cpacity
Current Workforce
Inventory levels
Activities required for production. |
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Term
| Production planning strategies(3) |
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Definition
1. Chase strategy
2. Stable Workforce
3. Level strategy |
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Term
| When only one strategy is use its called_________ |
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Definition
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Term
| When more than one strategy is used its__________ |
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Definition
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Term
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Definition
| Match Production rate to order rate by hiring and laying off employees as the order rate varies |
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Term
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Definition
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Term
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Definition
| Maintain a sable workforce working at a constant output rate. Shortages and surpluses are absorbed by fluctuating inventory levels. |
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Term
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Definition
| Being able to do "enough" of something to meet demand. |
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Term
| In a supply chain system of companies, the entire system is only as strong as its_______________ |
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Definition
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Term
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Definition
1. Basic production costs
2. Costs associated with changes in the production rate
3. Inventory holding costs
4. Backordering costs. |
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Term
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Definition
| An approach used in capital-intensice services that attempts to obtain maximum revenues through differential pricing, reservation systems and overbooking. |
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Term
| To execute yield management you need to? |
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Definition
| Segment customer base, using multiple price levels. |
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Term
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Definition
| Allocating the right type of capacity to the right type of customer ant the right price and time to maximize revenue. |
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Term
| It is more effective when?(6) |
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Definition
1. Demand can be segmented by customer
2.Fixed costs are high an variable costs are low
3. Inventory is perishable
4.Product can be sold in advance
5. Demand is highly variable. |
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Term
| Examples of companies that use Yield management? |
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Definition
| Hotels, airlines, cruise lines. |
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Term
| What are the degrees of contact?? What is the difference? |
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Definition
| High degree of customer conact are more difficult to control and more difficult to rationalize than those with low degree customer contact. |
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Term
| What are he actual names for degrees of contact? |
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Definition
1. Buffer zone----------mail
2. Permeable system-----phone or face to face
3. Reactive system------Face to face total customization. |
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Term
| Common Methods for managing Queues |
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Definition
1. Segment the customers
2. Train your servers to be friendly
3. Inform your customer of what to expect
4. Entertain customers while waiting.
5. Encourage customers to come during slack periods. |
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Term
| The Queuing System 3 Components |
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Definition
1) The source of the population and the way customers arrive at the system.
2. The servicing system.
3. The condition of the customers exiting the system. |
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Term
| Factors to consider with waiting lines are: |
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Definition
1. Length
2. Number of lines
3. Queue Discipline |
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Term
| What are Sales and Operations planing? |
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Definition
| Cross functional work to balance supply and demand. |
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Term
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Definition
1) Provide better customer service
2) Lower inventory
3) Shorten customer lead times
4) Stabilize production rates
5) Keeps supply and demand balanced. |
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Term
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Definition
| Anything that inhibits a system's progress toward its goals |
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Term
| Contstraints____________have to be in production. |
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Definition
| Contraints DO NOT have to be in production |
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Term
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Definition
| Total demand for all products and services. |
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Term
| The main purpose of aggregate plan is to specify the optimal combination of? (3) |
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Definition
1) Production rate
2) Workforce level
3) inventory on hand. |
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Term
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Definition
| Units completed per units of time. |
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Term
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Definition
| The number of workers needed for production |
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Term
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Definition
| production rate * Workforce level |
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Term
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Definition
| Systems constraints dictate systems capacity |
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Term
| Increasing output of a non-bottleneck ?? |
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Definition
does not help the system.
It just builds up inventory at the bottleneck. |
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Term
| Two alternatives for Demand Planning |
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Definition
1) Demand Chase
2) Level Production |
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Term
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Definition
Adjusting capacity to meet demand; hiring and firing workers.
-You loose labor quality
-Primary cost is hiring and firing costs. |
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Term
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Definition
Building up and using from inventory, while keeping workforce level
-Primary cost is inventory carrying cost. |
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Term
| For servicees weit cant be leveled by inventory, we have 2 types of constraints: |
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Definition
1) Time constraint__________appoinments can be used.
2) Space constraint_________Reservrations can be used
-Pricing strategies are used to (happy hour) |
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Term
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Definition
| Time required to convert paid inventory into cash from accounts receivable |
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